B-1 STATEMENT OF ADDITIONAL INFORMATION Dated May 1 ...

PortfolioManager(s)FundRegisteredInvestmentCompaniesOther PooledInvestmentVehiclesOther AccountsRon SachsFocusedAppreciationPortfolio17 registeredinvestment companieswith$14.2 billion intotal assets undermanagement1 other pooledinvestment vehiclewith $49.9 millionin total assetsunder management10 other accountswith $1.24 billionin total assets undermanagement,includes 1 otheraccount with$150.4 million inassets for which theadvisory fee isbased on theperformance of theaccountPhillip N.DavidsonMid Cap ValuePortfolio9 registered investmentcompanies with $8.2billion in total assetsunder managementNo other pooledinvestmentvehicles1 other accountwith $85.1 billionin total assets undermanagementMichael LissMid Cap ValuePortfolio9 registered investmentcompanies with $8.2billion in total assetsunder managementNo other pooledinvestmentvehicles1 other accountwith $85.1 billionin total assets undermanagementKevin ToneyMid Cap ValuePortfolio9 registered investmentcompanies with $8.2billion in total assetsunder managementNo other pooledinvestmentvehicles1 other accountwith $85.1 billionin total assets undermanagement1 These accounts consist of accounts of MSA’s parent and its affiliates. The assets under management reflect onlythose assets or the account(s) for which the portfolio manager is responsible.2 The various pooled investment vehicles and accounts listed are managed by a team of investment professionals.Accordingly, the portfolio managers listed would not be solely responsible for managing such listed amounts.3 Assets noted represent the total net assets of registered companies and are not indicative of the total assetsmanaged by the individual which will be a substantially lower amount.4 Assets noted represent the total net assets of other pooled investment vehicles and are not indicative of the totalassets managed by the individual which will be a substantially lower amount.5 Assets noted represent the total net assets of other accounts and are not indicative of the total assets managed bythe individual which will be a substantially lower amount. Reflects other professionally managed accounts held aCapital Guardian or companies affiliated with it. Personal brokerage accounts of the portfolio manager and his orher family are not reflected.6 The information does not include the Fund or any Portfolio. Total assets are based on T. Rowe Price internalrecords.*Information is as of March 31, 2009, as such person was not acting in the capacity of portfolio manager as ofDecember 31, 2008.**Information is as of February 28, 2009, as such person was not acting in the capacity of portfolio manager as ofDecember 31, 2008.B-85